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Climate Development Economy Environment

Climate adaptation and inequality: Lessons from Cape Town’s drought

A growing number of urban areas around the world face water scarcity. Focusing on the prolonged drought that Cape Town experienced from 2015 to 2018, this column examines how adaptation shaped outcomes for the city’s residents and for its municipal water utility. While policy measures including higher prices and usage restrictions saved the city from […]

trade Featured Finance News World

The 2025 trade war: Dynamic impacts across US states and the global economy

In 2025, the US government announced a series of tariff increases targeting major trading partners, including Canada, China, and Mexico. This column estimates the economic consequences of these proposed tariffs to the US and globally. According to this model, real wages in the US decline by 1.4% in 2028 and GDP falls by approximately 1%, […]

World Business trade

Recent trade policy actions: Insights from multiple models

Recent tariff measures by the US and countermeasures by its trading partners have dominated global policy debates. Using three economic models, this column shows how the tariffs impact trade flows, output, and welfare, especially in North America and China. In the short term, tariffs act as negative supply shocks for tariffing countries (depressing output while […]